Smaaash, a sports-based entertainment company, has acquired 100 per cent stake in multiplex operator PVR-owned entertainment firm bluO for an estimated Rs. 86 crore, in an all-cash deal. bluO is a joint venture between PVR Ltd and Major Cineplex Group of Thailand in which PVR owns 51 per cent stake with balance 49 per cent stake held by Major Group. The acquisition marks the doubling of the area under Smaaash management from 276,000 sqft to approximately around 600,000 sqft in India.
The newly acquired centres will operate under Smaash brand and two more centers are expected to open shortly. Smaaash will introduce its signature games at all bluO centres, unlike earlier when it only had bowling.